The shocks that occasionally batter the UK economy seem to be coming thicker and faster. The Global Financial Crisis (GFC) blew up in 2008. The Brexit vote followed eight year later. But we then only had to wait four years for Covid, and just two more for the cost-of-living crisis. At this rate we are already due another one.
A candidate has already emerged in the shape of a new financial crisis, again originating in the US. The GFC was prompted by a meltdown in the sub-prime mortgage market. This time the focus is on banks that mainly service the tech sector, notably the aptly-named Silicon Valley Bank.
The rosy view is that Silicon Valley Bank (SVB) was an outlier. There is something in this: the circumstances that led to its collapse may not have been unique, but they were at least relatively unusual.
In a nutshell, SVB took large…
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Utopia, you are standing in it! 
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